Check out our FREE Resources page – Download complimentary business frameworks, PowerPoint templates, whitepapers, and more.

We have categorized 28 documents as Hotel & Resort Industry. There are 8 documents listed on this page.

The Hotel and Resort Industry, a crucial segment of the broad service sector, has evolved into a complex labyrinth of value chains and service providers. Warren Buffet once astutely noted, "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." For top executives managing these "wonderful companies", understanding the industry's dynamics and recognizing its barriers and opportunities is of paramount importance. This piece aims to share insights that might aid in Operational Excellence and Strategic Planning for industry leaders.

Did you know?
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.


Trusted by over 10,000+ Client Organizations
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes, from startups and small businesses to the Fortune 100, in over 130 countries.
AT&T GE Cisco Intel IBM Coke Dell Toyota HP Nike Samsung Microsoft Astrazeneca JP Morgan KPMG Walgreens Walmart 3M Kaiser Oracle SAP Google E&Y Volvo Bosch Merck Fedex Shell Amgen Eli Lilly Roche AIG Abbott Amazon PwC T-Mobile Broadcom Bayer Pearson Titleist ConEd Pfizer NTT Data Schwab




Read Customer Testimonials

  •  
    "One of the great discoveries that I have made for my business is the Flevy library of training materials.

    As a Lean Transformation Expert, I am always making presentations to clients on a variety of topics: Training, Transformation, Total Productive Maintenance, Culture, Coaching, Tools, Leadership Behavior, etc. Flevy "

    – Ed Kemmerling, Senior Lean Transformation Expert at PMG
  •  
    "As a consultant requiring up to date and professional material that will be of value and use to my clients, I find Flevy a very reliable resource.

    The variety and quality of material available through Flevy offers a very useful and commanding source for information. Using Flevy saves me time, enhances my expertise and ends up being a good decision."

    – Dennis Gershowitz, Principal at DG Associates
  •  
    "I am extremely grateful for the proactiveness and eagerness to help and I would gladly recommend the Flevy team if you are looking for data and toolkits to help you work through business solutions."

    – Trevor Booth, Partner, Fast Forward Consulting
  •  
    "FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The "

    – Roderick Cameron, Founding Partner at SGFE Ltd
  •  
    "As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value."

    – David Coloma, Consulting Area Manager at Cynertia Consulting
  •  
    "The wide selection of frameworks is very useful to me as an independent consultant. In fact, it rivals what I had at my disposal at Big 4 Consulting firms in terms of efficacy and organization."

    – Julia T., Consulting Firm Owner (Former Manager at Deloitte and Capgemini)
  •  
    "I have found Flevy to be an amazing resource and library of useful presentations for lean sigma, change management and so many other topics. This has reduced the time I need to spend on preparing for my performance consultation. The library is easily accessible and updates are regularly provided. A wealth of great information."

    – Cynthia Howard RN, PhD, Executive Coach at Ei Leadership
  •  
    "If you are looking for great resources to save time with your business presentations, Flevy is truly a value-added resource. Flevy has done all the work for you and we will continue to utilize Flevy as a source to extract up-to-date information and data for our virtual and onsite presentations!"

    – Debbi Saffo, President at The NiKhar Group



Flevy Management Insights: Hotel & Resort Industry

The Hotel and Resort Industry, a crucial segment of the broad service sector, has evolved into a complex labyrinth of value chains and service providers. Warren Buffet once astutely noted, "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." For top executives managing these "wonderful companies", understanding the industry's dynamics and recognizing its barriers and opportunities is of paramount importance. This piece aims to share insights that might aid in Operational Excellence and Strategic Planning for industry leaders.

Resilience is the hallmark of the Hotel and Resort Industry. It consistently manages—through sheer force of innovation and leadership—to weather the storm of changing consumer demands and external factors. Deloitte's 2021 US Travel and Hospitality Outlook reports a downturn caused by the current global crisis but expects a strong rebound due to the industry's inherent resilience and pent-up consumer demand.

For effective implementation, take a look at these Hotel & Resort Industry best practices:

Explore related management topics: Operational Excellence Strategic Planning Value Chain Leadership

Industry Transformation through Digitalization

Digital Transformation stood at the periphery of the Hotel and Resort Industry's attention prior to the pandemic. However, the tables have turned; digitalization is now at the heart of managing pandemic-induced changes. Online booking systems and digitized services, along with Big Data and AI integrations, are rapidly becoming industry standards. These tools not only offer unparalleled operational efficiency but also enable a deeper understanding of customer preferences, creating opportunities for Personalized Marketing.

Explore related management topics: Big Data

Reimagining the Customer Experience

Digitalization is driving the reinvention of customer experiences. Goldman Sachs's "Hospitality Megatrends 2022" underlines that the industry is shifting towards a more holistic view of the customer journey—from initial consideration through post-stay engagement. This has put a premium on the delivery of personalized experiences, seamless digital interactions, and value-added services that resonate with discerning clientele.

Explore related management topics: Customer Experience Customer Journey

Environmental Sustainability

Environmental Sustainability is no longer a peripheral concern; it forms the core of many organizations' Corporate Responsibility strategies. McKinsey's survey on Consumer Sentiment on Sustainability in Fashion demonstrated that consumers are apt to spend more on sustainable products and services. The Hotel and Resort Industry must therefore make earnest efforts towards sustainable solutions—such as reducing energy consumption, minimizing waste, and promoting local culture and products—to stay competitive.

Explore related management topics: Local Culture

Workforce Management and Talent Acquisition

In the face of intense competition and fluctuating demands, Workforce Management plays a pivotal role. Accenture's "Workforce Management for the Future" emphasizes how the future will belong to organizations that marry workforce supply to business demand while enhancing worker experience. Upskilling existing staff and implementing effective Talent Management Strategies promise to elevate both customer service and overall business performance.

Explore related management topics: Customer Service Talent Management Workforce Management

Innovation and Collaboration

The current crisis amplified the Industry's call for Innovation. Rapidly evolving market demands, paired with unique challenges, laid the perfect canvas for Innovation and Collaboration. As noted by MIT Sloan Management Review, industries with higher collaboration levels show better innovativeness and competitive advantage. Partnerships with local businesses gained traction during the pandemic, allowing organizations to extend their service portfolios and offer unusual travel experiences that engage the modern, experiential consumer, while also uplifting local communities.

Shaping the future growth path of the Hotel and Resort Industry in these uncertain times requires daring Leadership. Through effective Digital Transformation, customer-centric branding, sustainable practices, strategic Workforce Management, and collaborative Innovation, industry leaders can embrace the challenges and transform them into newfound opportunities.

Explore related management topics: Digital Transformation Competitive Advantage

Hotel & Resort Industry FAQs

Here are our top-ranked questions that relate to Hotel & Resort Industry.

What are the key factors in developing successful partnerships between hotels/resorts and local businesses to enhance the guest experience and support community development?
Successful hotel/local business partnerships hinge on Strategic Planning, understanding community needs, creating mutually beneficial relationships, and continuous evolution to enhance guest experiences and support community development. [Read full explanation]
In what ways can hotels and resorts innovate their business models to cater to the growing demand for sustainable and eco-friendly travel options?
Hotels and resorts can innovate by focusing on Operational Excellence, enhancing guest experiences with sustainability, and leveraging Digital Transformation to meet the growing demand for eco-friendly travel. [Read full explanation]
What strategies can lodging companies adopt to balance the need for personalized guest experiences with the imperative for operational efficiency?
Lodging companies can balance personalized guest experiences with Operational Excellence by leveraging AI, ML, IoT for customization, utilizing data analytics for predictive personalization, and empowering staff for efficient service delivery. [Read full explanation]
How can hotels and resorts effectively measure the ROI of digital transformation initiatives in enhancing customer experience and operational efficiency?
To effectively measure the ROI of digital transformation in hotels and resorts, it is essential to combine financial metrics, customer satisfaction scores, and operational efficiency indicators, focusing on revenue changes, cost savings, CLV, customer engagement, and innovation metrics. [Read full explanation]

Related Case Studies

No case studies related to Hotel & Resort Industry found.

Explore all Flevy Management Case Studies




Flevy is the world's largest knowledge base of best practices.


Leverage the Experience of Experts.

Find documents of the same caliber as those used by top-tier consulting firms, like McKinsey, BCG, Bain, Deloitte, Accenture.

Download Immediately and Use.

Our PowerPoint presentations, Excel workbooks, and Word documents are completely customizable, including rebrandable.

Save Time, Effort, and Money.

Save yourself and your employees countless hours. Use that time to work on more value-added and fulfilling activities.



Download our FREE Strategy & Transformation Framework Templates

Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more.